VANCOUVER, Dec. 20, 2012 /CNW/ - The executive director of the British
Columbia Securities Commission has issued a notice of hearing alleging
that two B.C. residents and a Nevada corporation whose securities are
quoted on the Pink Sheets in the U.S. engaged in an illegal
distribution of securities, and breached a cease trade order.
The notice alleges that on October 5, 2010, Alexander Anderson and Ken
Chua distributed shares of Oriens Travel and Hotel Management Corp to
three B.C. residents without having filed a prospectus. Oriens, an OTC
reporting issuer in B.C., was the subject of a cease trade order by the
Corporate Finance division of the BCSC in January 2009.
BCSC staff contend that by distributing shares without a prospectus and
while the company was the subject of a cease trade order, Anderson,
Chua and Oriens authorized, permitted or acquiesced in the
contravention of securities laws. Anderson and Chua, in failing to tell
the investors about the cease trade order, are also alleged to have
The B.C. Securities Commission is the independent provincial government
agency responsible for regulating trading in securities within the
province. You may view the notice of hearing on our website www.bcsc.bc.ca by typing Alexander Anderson, Ken Chua, Oriens Travel and Hotel
Management Corp. or 2012 BC SECCOM 485 in the search box. Information
regarding disciplinary proceedings can be found in the Enforcement section of the BCSC website.
Please visit the Canadian Securities Administrators' Disciplined Persons List for information relating to persons disciplined by provincial
securities regulators, the Investment Industry Regulatory Organization
of Canada (IIROC) and the Mutual Fund Dealers Association (MFDA).
For media inquiries, please contact Richard Gilhooley, media relations,
604-899-6713. For public inquiries, please call 604 899 6854 or 1 800 373 6393 (toll
Learn how to protect yourself and become a more informed investor at www.investright.org
SOURCE: British Columbia Securities Commission
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